Former U.S. presidential candidate Andrew Yang spoke at the North American Blockchain Summit on November 16th, sharing his thoughts on digital assets and blockchain innovation.
Yang, who is a big supporter of Bitcoin and cryptocurrencies, founded the Forward Party in 2021, a centrist political group that embraces technology.
During the summit, Yang expressed concerns about the state of blockchain technology in the U.S., especially how it’s portrayed in the media. He worries that negative coverage and a lack of positive examples could push business away from the country.
To address this, Yang emphasized the importance of showcasing positive uses of blockchain to solve real problems for the American people. He highlighted that current news often focuses on specific individuals and platforms, like Sam Bankman-Fried and FTX, giving a narrow view of the technology’s potential.
Yang also criticized the regulatory environment for overseeing digital assets in the U.S., describing it as a “wait until something goes wrong, and then we’ll have hearings” approach.
His comments come after a week of hearings on crypto crime, legislation, and regulation. U.S. regulators met with the Senate Banking Committee to discuss oversight of the digital asset sector, and the House Financial Services Subcommittee on Digital Assets cracked down on cryptocurrency crime and terrorist funding following a deadly attack by Hamas.
Yang sees the potential for blockchain technology to address significant societal issues, particularly in combating poverty. He remains optimistic about its impact and hasn’t ruled out a bid for the 2024 presidential election.